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Today’s stock market index composites will have to make up for several days of negative trending. The market opened on Thursday with stock futures posting a lower start and closed in the red with the Dow Jones Industrial Average dropping 139.41 points to 12,48.17, the Nasdaq lost 13.51 points to 2,814.72 and the S&P 500 decreased by 12.22 to 1,335.10. An initial sell off in the energy sector late Thursday fueled a broad based sell off that pulled the market down. Oil prices dropped 8% in the largest one day drop since April of 2009, with the price per barrel dipping below $100. The drop in the market comes on the eve before the Feds highly anticipated jobs report as anxious investors turn conservatively cautious. On Thursday the Labor department revealed a significant increase in first time claims for unemployment in the last week. Although jobless claims have risen recently, economists forecast the unemployment rate to remain the same , while showing an addition of 185,000 jobs in the month of April. This did not happen however and all eyes will be focused to observe the week’s ending. Today, investors will process the Labor Department’s full jobs report due to post this morning. The unemployment rate is expected to remain about the same at 8.8 percent nationally. Constellation Energy is due to post earnings as is the Washington Post Company and Weight Watchers International. Author: Frank Matto
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